ZF Friedrichshafen Eyes China Growth on Electric Vehicle Boom
- Car-parts maker wants to generate 30% of sales there in 2030
- China leads on EVs and its auto brands are expanding in Europe
Vehicle components at the ZF Friedrichshafen AG stand at the Munich Motor Show.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
German car-parts maker ZF Friedrichshafen AG aims to grow sales in China to benefit from the country’s rapid shift to electric vehicles, WirtschaftsWoche reported.
The company wants to generate around 30% of its total revenue in China by 2030, up from about 18% last year, ZF management board member Stephan von Schuckmann told the publication. Revenue is expected to grow as more Chinese automakers export their vehicles abroad, he said.